Blue Star Limited · NSE:BLUESTARCO
Blue Star — Q4 FY2024 Earnings Presentation
33 slides from Blue Star's earnings presentation, May 3, 2024
Slide 1: Cover letter to stock exchanges
May 3, 2024 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 BSE Scrip Code: 500067 NSE Symbol: BLUESTARCO Dear Sir/Madam, Sub: Investors’ Presentations for t
Slide 2: Investor Presentation – Q4FY24 & FY24
Investor Presentation – Q4FY24 & FY24 BLUE STAR LIMITED May 03, 2024
Slide 3: India based air conditioning, commercial refrigeration and MEP contracting company
India based air conditioning, commercial refrigeration and MEP contracting company Commenced operations in 1943, Air conditioning, Maintains c. 2 million tonnes of Presence in with c. 80 years of operations in Refrigeration and MEP air conditioning and India solution provider refrigeration equipment
Slide 4: Vision, Credo and The Blue Star Way
Vision, Credo and The Blue Star Way The Blue Star Way Vision ✓ Be a company that is a pleasure to do business with “To dream, to strive, to care and, ✓ Win out people’s hearts and minds above all to be the best in ✓ Continuously improve shareholder value everything we do.” ✓ Give primacy to meritocr
Slide 5: Diversified B2B & B2C business with exposure to different end-markets
Diversified B2B & B2C business with exposure to different end-markets 1 2 3 Electro-Mechanical Projects & Professional Electronics and Commercial Air Conditioning Unitary Products Industrial Systems Systems Central Commercial Cooling & Purification MEP After sales Refrigeration Med-Tech Industrial A
Slide 6: Operates 7 plants in India for both domestic & export markets
Operates 7 plants in India for both domestic & export markets... Himachal Pradesh 2 Himachal Pradesh 1 Started: 2011 Area: 9,800m 2 Started: 2005 Area: 16,000m 2 Key products: Room Key products: Manufacturing air conditioners Room air conditioners footprint of 130k square meter Ahmedabad Dadra Start
Slide 7: Operates 7 plants in India for both domestic & export markets
Operates 7 plants in India for both domestic & export markets... ❑ Specialise in manufacturing a variety of highly engineered and custom-built products. ❑ Lean manufacturing and world-class practices. ❑ Green Building initiatives - ❑ Wada factory certified ‘Green factory’ – Platinum category from IG
Slide 8: Research & Development
Research & Development ❑ Consistent investment in R&D to enhance company’s product offerings and technical capabilities ❑ Focus on energy efficient and sustainable products and technologies ❑ Cost innovation through Total Cost Management and Design to Value, initiative for highly affordable air cond
Slide 9: ESG principles are embedded in Blue Star's business practices
ESG principles are embedded in Blue Star’s business practices Net zero road map ❑ Product energy- efficiency ❑ Well-enumerated Code of Conduct, Whistle Blower Mechanism and ❑ E-Waste compliance ✓ Carbon Footprint ✓ Energy Efficiency in the Room AC a Governance, Risk and industry Mapping ✓ Renewable
Slide 10: Strong governance is the key pillar of Blue Star
Strong governance is the key pillar of Blue Star through out its existence Chairmen Emeriti Ashok M Advani Suneel M Advani Board of Directors Vir S Advani* B Thiagarajan* Chairman & Managing Director Managing Director Arvind K Singhal Rajiv R Lulla Sunaina Murthy Dinesh Vaswani Sam Balsara Anil Hari
Slide 11: Industry recognition for achievements
Industry recognition for achievements Corporate governance and management Golden Peacock Award Winner of ICSI Best Golden Peacock Award Great Place to Work – for Corporate Governance Governed Company for Risk Management Certified Organization 2019/2020/2021 (Listed: Medium) 2020/2022/2023 2023 2019
Slide 12: Business Segments Overview
oyq| BLUE STAR usiness Segments Overview
Slide 13: Segment 1: Electro-Mechanical Projects & Commercial Air Conditioning Systems
Segment 1: Electro-Mechanical Projects & Commercial Air Conditioning Systems
Slide 14: Electro-Mechanical Projects Group
Electro-Mechanical Projects Group Prestigious Projects ❑ Design, Engineering, Procurement and Construction (EPC) of Mechanical, Electrical & Plumbing (MEP) systems for commercial buildings, industrial facilities & infrastructure projects ❑ Our Value Proposition - Superior project delivery through in
Slide 15: Central Air Conditioning Systems
Central Air Conditioning Systems ❑ Complete range of energy efficient QCO compliant packaged ❑ High ambient and ducted split air conditioning systems performance VRF ❑ Next generation inverter based ducted systems and inverter ❑ A broad range of VRFs heat pump air conditioning systems for all applic
Slide 16: After-sales Service
After-sales Service Maintaining c. 2 million tonnes of air conditioning and Select end-markets refrigeration equipment Air conditioning Extensively expanded service reach to Tier 2, 3 & 4 towns Currently handling c. 3,900 towns with > 2 million service calls a year PSU / Govt. Industrial Hospitals F
Slide 17: International Business
International Business Prestigious Projects ❑ The Company’s wholly owned subsidiary, Blue Star International FZCO at Dubai Airport Free Zone (DAFZA) Dubai manages businesses in the Middle East, Africa, ASEAN and SAARC regions ❑ Focus on building a larger international footprint by appointing new dis
Slide 18: Segment 2: Unitary Products Segment
Segment 2: Unitary Products Segment
Slide 19: Cooling and Purification Appliances
Cooling and Purification Appliances Room Air conditioners Wide range of Air conditioners Wide range of premium, affordable premium and affordable Inverter Split AC Fixed Speed Split AC split ACs with superior build quality Installed base of over 2.5 million units Products available in c. 8,800 outle
Slide 20: Commercial Refrigeration
Commercial Refrigeration Wide range of commercial refrigeration products and solutions Wide range of solutions for food preservation – deep freezers, modular cold rooms and super market and Deep Freezers Bottle Coolers Cold Rooms commercial kitchen refrigeration Wide range of bottled water dispenser
Slide 21: Segment 3: Professional Electronics & Industrial Systems
Segment 3: Professional Electronics & Industrial Systems
Slide 22: Professional Electronics & Industrial Systems
Professional Electronics & Industrial Systems Managed by wholly owned subsidiary, Blue Star Engineering Lines of Business & Electronics (Blue Star E&E) ❑ Operates in three broad segments: MedTech Solutions, Data Security Solutions and Industrial Solutions Our Value Proposition – We engineer customer
Slide 23: Financial Performance – Q4FY24
Financial Performance – Q4FY24
Slide 24: Financial performance – Q4FY24
Financial performance – Q4FY24 Revenue (Rs Cr) EBITDA (Rs Cr) 3328 7.3% 2624 6.8% # 179 242 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Profit before tax (Rs Cr) Earnings per share (EPS)* (Rs ) 214 7.77 146 # # 4.47 Q4FY23 Q4FY24 Q4FY23 Q4FY24 *Not Annualized # Without considering exceptional gain on Sale of Land R
Slide 25: Segment performance – Q4FY24
Segment performance – Q4FY24 Segment Revenue (Rs Cr) Segment I Segment II Segment III 112 1709 1507 1253 1268 103 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Segment Result (Rs Cr) Segment I Segment II Segment III 113 141 107 20 99 14 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 RESTRICTED 24
Slide 26: Financial Performance – FY24
Financial Performance – FY24
Slide 27: Financial performance – FY24
Financial performance – FY24 Revenue (Rs Cr) EBITDA (Rs Cr) 9685 6.9% 7977 6.2% # 493 665 FY23 FY24 FY23 FY24 Profit before tax (Rs Cr) Earnings per share (EPS) (Rs ) 557 # 20.77 385 # 13.57 FY23 FY24 FY23 FY24 # Without considering exceptional gain on Sale of Land RESTRICTED 26
Slide 28: Balance Sheet Indicators – FY24
Balance Sheet Indicators – FY24 Net Borrowing (Rs Cr) Net Debt/Equity (times) 208 0.16 -456 * FY23 FY24 FY23 FY24 Capital Turns (times) Return on Capital Employed (%) 6.1 34% 33% 5.3 FY23 FY24 FY23 FY24 RESTRICTED *Net Positive Cash Position 27
Slide 29: Segment 1: EMP and Commercial Air–Conditioning Systems
Segment 1 : EMP and Commercial Air–Conditioning Systems Segment Revenue (Rs Cr) Segment Result (Rs cr) 341 4715 277 4016 FY23 FY24 FY23 FY24 Capital Employed (Rs cr) Return on Capital Employed (%) 76% 665 65% 391 FY23 FY24 FY23 FY24 RESTRICTED 28
Slide 30: Segment 1: EMP and Commercial Air–Conditioning Systems – Orders
Segment 1 : EMP and Commercial Air–Conditioning Systems Orders Booked (Rs Cr) Carried Forward Orders (Rs cr) 5573 5477 5466 4816 FY23 FY24 FY23 FY24 RESTRICTED 29
Slide 31: Segment 2: Unitary Products
Segment 2 : Unitary Products Segment Revenue (Rs Cr) Segment Result (Rs cr) 360 4592 282 3627 FY23 FY24 FY23 FY24 Capital Employed (Rs cr) Return on Capital Employed (%) 1251 40% 36% 748 FY23 FY24 FY23 FY24 RESTRICTED 30
Slide 32: Segment 3: Professional Electronics & Industrial Systems
Segment 3 : Professional Electronics & Industrial Systems Segment Revenue (Rs Cr) Segment Result (Rs cr) 378 335 52 51 FY23 FY24 FY23 FY24 RESTRICTED 31
Slide 33: Thank You
Thank You